Cash flows from operating activities for both the indirect and direct methods are presented for Electronic Transformations.

Cash Flows from Operating Activities (Indirect method)
Net income	$36,000
Adjustments to reconcile net income to net cash flows from operating activities:
Depreciation expense	9,000
Increase in accounts receivable	(13,000)
Increase in accounts payable	8,000
Increase in income tax payable	6,000
Net cash flows from operating activities		$46,000
Cash Flows from Operating Activities (Direct method)
Cash received from customers	$83,000
Cash paid for operating expenses	(26,000)
Cash paid for income taxes	(11,000)
Net cash flows from operating activities		$46,000

Required:

Complete the following income statement for Electronic Transformations. Assume all accounts payable are to suppliers.